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GM89: When Credibility Becomes the Risk Premium ft. Maurice Obstfeld
Manage episode 513684810 series 44605
Maurice Obstfeld joins Alan Dunne for a clear-eyed look at how the foundations of the global monetary system are shifting - and why much of the world is quietly preparing for a future without a stable dollar anchor. Drawing on decades in policy and research, Obstfeld explains how tariffs, fiscal dominance, and political interference are eroding the norms that once held the system together. They discuss the risk of fragmentation, the creeping politicization of the Fed, and why trust - not theory - is the real currency at stake. This is a conversation about power, credibility, and what happens when both start to slip.
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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
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Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
Follow Alan on Twitter.
Read more about Maurice here.
Episode TimeStamps:
02:18 - Introduction to Maurice Obstfeld
05:26 - The role and evolution of the International Monetary Fund (IMF)
08:14 - What has been the rationale for tariffs, and how has it impacted the economy?
11:13 - Has the viewpoint on tariffs shifted?
18:42 - How the changing monetary policy could undermine the dollar
27:19 - Does an alternative to the dollar even exist?
29:50 - What are the implications of moving away from the dollar?
34:20 - A possible financial repression incoming?
36:25 - The impact of an unusual approach to policy making domestically
39:16 - A fork in the road for the Fed
47:19 - From problem to crisis
51:32 - Is Obstfeld optimistic about AI?
53:06 - The end of the neoliberal era - what comes next?
58:00 - Advice for other investors
Copyright © 2025 – CMC AG – All Rights Reserved
----
PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:
1. eBooks that cover key topics that you need to know about
In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here
2. Daily Trend Barometer and Market Score
One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here
3. Other Resources that can help you
And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here
930 episodes
Manage episode 513684810 series 44605
Maurice Obstfeld joins Alan Dunne for a clear-eyed look at how the foundations of the global monetary system are shifting - and why much of the world is quietly preparing for a future without a stable dollar anchor. Drawing on decades in policy and research, Obstfeld explains how tariffs, fiscal dominance, and political interference are eroding the norms that once held the system together. They discuss the risk of fragmentation, the creeping politicization of the Fed, and why trust - not theory - is the real currency at stake. This is a conversation about power, credibility, and what happens when both start to slip.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----
Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
Follow Alan on Twitter.
Read more about Maurice here.
Episode TimeStamps:
02:18 - Introduction to Maurice Obstfeld
05:26 - The role and evolution of the International Monetary Fund (IMF)
08:14 - What has been the rationale for tariffs, and how has it impacted the economy?
11:13 - Has the viewpoint on tariffs shifted?
18:42 - How the changing monetary policy could undermine the dollar
27:19 - Does an alternative to the dollar even exist?
29:50 - What are the implications of moving away from the dollar?
34:20 - A possible financial repression incoming?
36:25 - The impact of an unusual approach to policy making domestically
39:16 - A fork in the road for the Fed
47:19 - From problem to crisis
51:32 - Is Obstfeld optimistic about AI?
53:06 - The end of the neoliberal era - what comes next?
58:00 - Advice for other investors
Copyright © 2025 – CMC AG – All Rights Reserved
----
PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:
1. eBooks that cover key topics that you need to know about
In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here
2. Daily Trend Barometer and Market Score
One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here
3. Other Resources that can help you
And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here
930 episodes
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